Evolution of broker/agent websites
SecondSpace, the developer of sophisticated search engine optimized marketing platforms for real estate, signed with Florida broker/developer Joe.com to redo their website. It's significant because it ushers in a new platform paradigm for brokers - engineered by Silicon Valley vets instead of local web design firms. The broker website will suddenly become much more intelligent and interactive, and the early adopters have finally appeared.
The chart below chronicles the evolution in the broker and agent adoption of internet platforms, starting with simple websites. The last three stages in yellow represent the new platform paradigm shift as online real estate slowly moves into the sphere of Web 2.0.
| Evolutionary stage | Platform | Provider | Adoption rate |
| Agent needs a website | Agent website design | Agent website providers, independent web designers | Ubiquity makes agent websites ho-hum and ineffective for lead generation |
| Broker needs an online listings service | IDX Website for searching across MLS data | MLS IDX website system providers | Status quo |
| Agents need customer relationship management system ("CRM") for lead management | CRM systems often built into the backend of website design, for both broker or agent sites | IDX system providers, independent lead generation companies like Housevalues.com offer CRM | Most agent CRM still done offline in Outlook or other client based software |
| Broker needs a lead generation system | Various - lead capture, lead qualification, lead response - some of it built into an IDX system, some outsourced | Independent vendors and IDX system providers | Besides
a contact info page, it's hard to see whether lead management systems
have been adopted by a broker unless one tests it. |
| Agent websites need lead generation system | Agent website design | Usually part of the website system package | Low adoption, results are mixed. Agents would rather just buy the leads from third parties anyway |
| Broker needs client facing property tracking system | Built into IDX systems | IDX system providers, vendors like Cleanoffer.com | Automatic with IDX system |
| Broker needs "bells and whistles" | Automated home valuation modeling (AVM), heat maps, property data | Vendors like Cyberhomes provides AVM solutions | Nascent |
| Agent needs a blog | Blogging platform | Wordpress, Typepad et al | Small but growing |
| Agent blog needs "bells and whistles" | Widgets | Check Housing Widgets | Widgetization is a big online trend for all industries |
| Broker needs a sales/marketing platform | Search engine optimized internet marketing engine | Second Space signs with developer Joe.com to build sales/marketing platform | Nascent |
| Broker needs a blog-enabled website | Blogging or multiuser blogging platform | Developing niche. Check Blogging Systems, Realivent and Realtyger. | 0% |
| Broker needs a Web 2.0 CRM system | Platform with applications that connect the agent directly with consumer - Q&A, forums, chat | These applications will either be custom coded or a startup will develop a plug & play solution. Check Incredible Agent's offerings | Non-existent at broker sites |
Pat,
We have been building the last section of your diagram. The only thing you have missing is the ability for a brokerage to pass down leads to agents and to build an office community thru the agents websites. All with messaging, training, tracking, help, etc. I need to sit down with you for 20 minutes and demo everything further for you.
Reply to this
Of course Damon! I know your offering is leading edge. Please explain a bit further about functionality for broker lead generation - I lumped lead gen into one category in the chart and I always am interested in hearing variations of the evolution of lead gen. My take on the topic has generally been that Web 2.0 constructs a pathway between the agent and consumer and starts to make lead gen less significant.
Reply to this
Pat,
Interesting! You know ActiveRain got its start building a "web 2.0 CRM". We started building it in early 2004. It was completely viral and open and had a robust hierarchy system for broker/franchises. It is not live anymore. Maybe it was ahead of it's time. It wasn't getting any real traction so we scaled it down and started a little directory with a crazy points system. Give me a call sometime I would love to show it to you. My cell is 425.753.3006
Reply to this
Timing is everything Jonathan... you got Active Rain right! I'd love to see this... will call...
Reply to this
Pat, for the purpose of transparency (the title of your blog), do you have a relationship with secondspace? Just wondering.
Reply to this
I always disclose when I or my consulting firm have any business relationship with any of the companies I discuss on Transparent. Second Space, no business relationship. I have often mentioned Second Space because I am intrigued with the potentials of internet technologies to change this industry.
Reply to this
Pat,
Not sure if you missed the announcement me had on the Tomato last month:
http://realestatetomato.typepad.com/the_real_estate_tomato/2007/08/the-real-esta-1.html
We have developed an a full featured Real Estate Broker Blog. To see one in action:
http://blog.ewm.com
Quick stats:
200 Actively blogging agents
3000+ posts in first month
25+ Miami area communities sorted by independent categories
Moderation Chair - all posts run through a moderator limiting formatting and legal issues.
Internal Blog acting as Intranet replacement - This is actually the most exciting element of the product. I'll save that explanation for a post.
Huge Google penetration in the first month.
Dozens of leads already generated.
I'd love to give you a full demo both front and back end if you would like some more details.
Reply to this
Hi Jim, I did see the EWM broker blog when it launched and gave it kudos over at Search Engine Journal where I post articles on real estate SEO and blogging - http://www.searchenginejournal.com/getting-real-estate-agents-to-adopt-blogging-for-enhanced-seo/5564/
Very impressive!
Reply to this